Urban Institute, April 19, 2024, The Wealth Gap Between Homeowners And Renters Has Reached A Historic High
Homes are often families’ largest assets and one of the most effective ways to build wealth, but countless news stories and studies detail just how out of reach homeownership has become. What does that mean for the wealth gap between owners and renters?
The most recent Survey of Consumer Finances data reveal that in 2022, both the median and average wealth gaps have reached historic highs since the data were first collected in 1989:
- In 2022, the median wealth gap between homeowners and renters reached almost $390,000, and the average wealth gap reached over $1,370,000
